BTC (Y20.P6.E6). You be the judge

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Hi All,

This is a continuation of the previous post, link supplied below.

I pose the question, have we hit the top in this wave 3 and now going to wave 4?
You be the judge.
I do see upward pressure but is it enough to take out the previous high, as the bounce is bullish compared to 2019.
It also makes me think, ETH target was 800 to 840, so it leaves that doubt.



OBSERVATIONS:
> The wick went to the 4 HRLY 10/20 ema for support
> The wick hit the 0.618 fib retracement based on this.



PREVIOUS POST RELATED TO THIS IDEA.

٣ يناير ٢٠٢١

ملاحظة

All the other tools are useless now. LOL.
All I can use now in a reference to previous is monthly highs.
RSI month has room to the upside to match 2017 level.

Next Fib level

٣ يناير ٢٠٢١

ملاحظة

٣ يناير ٢٠٢١

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Looking for the next target, I used the monthly CPR (January) and the Fibonacci.

٣ يناير ٢٠٢١

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A thought came to mind...hmmm.... this is on Bitstamp.

٣ يناير ٢٠٢١

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My thoughts on the macro structure for now. The target is the minimum based on the 1.618 extension. I will have to do some research as to why many say 100K plus, based on my understanding the multiple EMA
For now, on the macro structure, we have BEARISH ALT AB=CD where we hit the 1.618 level. as per this chart.

and using the fib time extension, maybe sometime in May for Wave 4 to complete.

٤ يناير ٢٠٢١

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Short term danger. It seems its respected as resistance and now support. If we lose this level, its definitely a significant drop.

٤ يناير ٢٠٢١

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increases the chance for a down trend. If it loses this red level, it becomes bearish.
Going with the 4 HRLY , it opens the door to the H&S... My advice is for you to study the drop in early 2020 prior the black swan even and you will see a sophisticated H&S. This one might be straight foreword. THis puzzle is aligned with 2019 top as well. too much effort to explain it all. Might do a video.